The leading player in flash memory for gadgets is getting a nice lift from Apple's iPad. And much greater growth may lie ahead, thanks to the market for regular old laptops.

Apple CEO Steve Jobs says an iPad is now sold every three seconds—and that's digital music to the ears of SanDisk (ticker: SNDK), which makes the flash memory used in the new tablet computer. SanDisk is the first name in flash memory, which requires less power and space than other types of storage, and the iPad is gobbling up the technology. By Morgan Stanley's count, Apple will sell 10...